Executive Summary
The single contract in this stream is a $66,618,385 GSA Federal Acquisition Service delivery order to Science Applications International Corporation (SAIC) for ClearPath Mainframe Hosting Services, awarded March 29, 2022 and running through December 2026 with a base-plus-options ceiling of $72,847,675.
The award is entirely civilian (0/1 defense-related), full and open competition with no set-aside, and firm fixed price under NAICS 541512 / PSC DA10, placing it in legacy mainframe hosting and application development rather than defense hardware. The highest-conviction signal is modest: roughly $6.2M of option headroom remains before the December 31, 2026 expiration, implying approximately $14.2M-$15.5M of annual revenue recognition if obligations are spread evenly across the ~4.75-year period. The dominant risk is data quality: 53 subawards totaling $126,366,678 exceed the prime obligation, and total outlayed is reported as negative ($-65,728), which materially limits confidence in net revenue attribution to SAIC. With a neutral 5/10 signal strength and 3/10 materiality, this is a low-impact data point for SAIC's overall revenue base and not a standalone thesis driver.
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Investment Signals (3)
- SAIC holds ~$6.2M option headroom on $72.8M GSA ClearPath Mainframe Hosting order expiring December 2026 (MEDIUM)▲
SAIC's GSA FAS delivery order carries a $72,847,675 base-plus-options ceiling against $66,618,385 obligated, leaving roughly $6.2M of option headroom to be exercised before the December 31, 2026 expiration. Exercise would extend a firm-fixed-price, full-and-open civilian IT services revenue stream through year-end 2026.
- SAIC subaward total of $126.4M exceeds $66.6M prime obligation, clouding net revenue attribution (HIGH)▲
The contract reports 53 subawards totaling $126,366,678 against a prime obligation of $66,618,385, and total outlayed is negative ($-65,728). These anomalies mean gross contract value cannot be read as SAIC revenue without reconciliation, limiting the signal's usefulness for modeling.
- Single civilian IT order at 3/10 materiality offers no trend evidence for SAIC (HIGH)▲
With 0/1 contracts defense-related, a neutral 5/10 signal strength, and a 3/10 materiality score, this $66.6M GSA order is immaterial relative to SAIC's broader revenue base and cannot establish a civilian IT spending trend on its own.
Risk Flags (3)
- Execution [MEDIUM RISK]▼
SAIC's ClearPath Mainframe Hosting delivery order expires December 31, 2026; without option exercise or re-compete win, the ~$14.2M-$15.5M annualized revenue stream terminates. The negative total outlayed figure ($-65,728) also raises questions about obligation accounting on this vehicle.
- Concentration [MEDIUM RISK]▼
The entire stream is a single GSA FAS delivery order to one recipient (SAIC), providing no diversification and no cross-agency or cross-recipient corroboration of spending trends.
- Competition [LOW RISK]▼
The award was full and open competition with no set-aside and firm fixed price pricing, meaning SAIC faces re-compete exposure at expiration with no incumbency protection from a set-aside designation.
Opportunities (1)
- ◆
SAIC's GSA FAS ClearPath Mainframe Hosting order supports legacy infrastructure modernization and hosted/cloud services demand under NAICS 541512 and PSC DA10, a civilian-agency IT niche that could extend through follow-on task orders.
Sector Themes (1)
- ◆
SAIC's $66.6M GSA FAS delivery order for ClearPath Mainframe Hosting Services (NAICS 541512, PSC DA10) evidences continued civilian-agency spending on legacy infrastructure hosting and application development rather than defense IT.
Watch List (2)
- 👁
{"entity" => "Science Applications International Corporation", "reason" => "Holds a $66,618,385 GSA ClearPath Mainframe Hosting order with $6.2M of option headroom and a December 31, 2026 expiration.", "trigger" => "Option exercise decision and any re-compete solicitation before 2026-12-31"}
- 👁
{"entity" => "General Services Administration Federal Acquisition Service", "reason" => "Sole awarding agency in this stream; its FAS delivery order activity is the only spending signal available.", "trigger" => "New GSA FAS IT services delivery orders or modifications"}
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